Reviewed interim resultsfor the six months ended 30 September 2019

Contents

1 Performance highlights

2 Presentation

15 About Transnet

ibc Corporate information

Reviewed interim results 1

Revenue increased by 2,9% to R38,7 billion for the year, supported by a 3,0% increase

in export iron ore volumes and a 1,6% increase in petroleum volumes.

Net operating expenses

increased by 1,2% to R21,2 billion.

EBITDA increased by 5,1%

to R17,5 billion, with the EBITDA

margin increasing from 44,3% to 45,2%.

Performance highlights

Profit for the period increased by 3,5%

to R2,9 billion.

Gearing of 43,2% and cash interest cover at 3,0 times were both comfortably within loan

covenant requirements.Cash generated from operations after

working capital changes increased by 5,3% to R16,2 billion. Capital investment of R7,9 billion for

the period.

B-BBEE spend amounted to R14,7 billion or 102,48% of total measured procurement spend.

2,5% of labour costs was spent on training, focusing on artisans,

engineers and technicians.

DIFR performance was 0,72 against a tolerance of 0,75, below the

global benchmark of 1,0.

5,1%

3,5%

2 Presentation

Reviewed interim results 3

4 Presentation

Reviewed interim results 5

6 Presentation

Reviewed interim results 7

8 Presentation

Reviewed interim results 9

10 Presentation

Reviewed interim results 11

12 Presentation

Reviewed interim results 13

14 Presentation

Transnet Port Terminals owns and operates 16 cargo terminal operations situated at seven South African ports. It provides cargo-handling services for the container, bulk, automotive and break-bulk sectors.

Transnet Pipelines transports a range of petroleum products and gas through 3 800 kilometres of underground pipelines, which traverse five provinces, thereby ensuring the security of supply of petroleum products to the inland market, especially Gauteng. Transnet Pipelines is gearing itself for full commissioning of the New Multi-Product Pipeline.

Transnet is wholly owned by the Government of the Republic of South Africa. The Company is uniquely positioned to provide integrated, seamless transport solutions for its customers in the bulk and manufacturing sectors. This is part of its drive to improve the efficiency and competitiveness of the South African economy.

Transnet has five operating divisions:

Transnet Freight Rail transports bulk and containerised freight along 30 400 kilometres of railway track with two heavy haul lines for export coal and export iron ore.

Transnet Engineering manufactures and maintains rolling stock. It consists of eight product-focused business units which provide services ranging from rolling stock refurbishment, conversion and upgrades, to the manufacturing of locomotives, coaches and wagons.

Transnet National Ports Authority is responsible for the safe, efficient and effective functioning of the national ports system, which it manages in a landlord capacity. Transnet National Ports Authority is also a provider of port infrastructure and marine services at all commercial ports in South Africa.

Specialist unitsTransnet Group Capital manages Transnet’s largest capital projects.

Transnet Foundation is responsible for executing corporate social investment initiatives.

Transnet Property manages the Company’s property portfolio.

About Transnet

Reviewed interim results 15

16 Notes

Notes

Corporate information

Transnet SOC LtdIncorporated in the Republic of South Africa.Registration number 1990/000900/30.

Waterfall Business Estate9 Country Estate DriveMidrand1662

Executive directorsMr MS Mahomedy (Acting Group Chief Executive)Mr MD Gregg-Macdonald (Acting Group Chief Financial Officer)

Non-executive directorsDr PS Molefe (Chairperson) Ms UN Fikelepi, Ms RJ Ganda, Ms DC Matshoga, Mr LL von Zeuner, Ms ME Letlape, Adv OM Motaung, Ms GT Ramphaka, Mr AP Ramabulana, Dr FS Mufamadi.

Acting Group Company SecretaryMs K NaickerWaterfall Business Estate9 Country Estate DriveMidrand1662

PO Box 72501Parkview2122South Africa

Independent auditorsSizweNtsalubaGobodo Grant Thornton Inc.20 Morris Street EastWoodmeadJohannesburg2191

www.transnet.net

Reviewed interim results

www.transnet.net